Industry Analysis & Industry Trends
Reinsurance is the business of insuring insurance policies so that direct insurers can manage their risk and limit their liabilities. Reinsurers often also use reinsurance to manage their own policy risks or to generate profit by insuring reinsured policies. This process is known as retrocession. Reinsurance is a global business because geographical risks can be minimised by spreading coverage across a variety of markets. Operators in this industry generate their revenue from policy premiums and investment income. Industry revenue is estimated to grow at a compound annual rate of 1.7% over the five years through 2016-17. Premium income was weak at the start of the period but rebounded over the following years... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Reinsurance industry exhibits a medium level of market share concentration, with the top four players in the industry estimated to account for less than 70% of the industry in terms of premium income. However, the top two firms, Lloyd's of London and Munich Re, account for 49.6% of the industry according to IBISWorld estimates.
Industry concentration has increased during the past five years due to consolidation activity, which is also expected to cause the concentration level to increase further over the coming five years
Foreign companies that participate in the UK market do not have a significant market share although many domestic insurers insure with overseas reinsurers because reinsurers tend to deal with insurers directly. Thi.. purchase to read more